Revisions have been made to incorporate the latest data relating to international merchandise trade and international trade in services. The international trade in goods and services on a balance of payments basis series have been revised from July 2009 onwards.

Table 17 summarises revisions to goods and services on a balance of payments basis, in original current price terms, since the last issue of this publication. In original terms, the revisions have:

increased the deficit on goods and services for 2009-2010 by $9m

increased the surplus on goods and services for the five months to November 2010 by $32m.

Seasonally adjusted and trend series have been revised due to the incorporation of the revisions and estimates for the latest month.

IMPACT OF THE FLOODS

Flooding in Queensland began in late December 2010. Data collection and processing for the data in this publication were not disrupted. It is expected that the first significant economic impact of floods in Queensland and other states will be reflected in the forthcoming issues of this publication.

CHANGES IN THIS AND FORTHCOMING ISSUES

Changes have been made to the OECD country group to include Israel and Estonia. Gold and silver merchandise trade data have been revised outside the normal revision period. In addition, changes will be made to the Australian Harmonized Export Commodity Classification and the Customs Tariff classification. See the section Changes in this and forthcoming issues for details.

INQUIRIES

For further information contact Selvi Sekhar on Canberra (02) 6252 5540 for Goods, and Lee Taylor on Canberra (02) 6252 6377 for Services.

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